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AMA: Libero expansion
Libero Leo 🗽🗽🗽, [Mar 21, 2022 at 08:19:39]: Hello Fiore, Hi everyone, I am excited to be here today to talk about our new LIBERO expansion.
Fiore Jack, [Mar 21, 2022 at 08:20:23]: Hello everyone and welcome to the AMA with Libero Financial ! Today we have @lionheart1979 The lead Dev of Libero joining us to talk about their exciting new project. Great to have you here again Leo.
Let's start the AMA 😀 with a small introduction and then we'll proceed with questions.
Libero Leo 🗽🗽🗽, [Mar 21, 2022 at 08:24:46]: Sure, I am Libero Leo, lead developer of LIBERO. I am excited to be here today with the awesome Thoreum community to talk about our new expansion: fLIBERO on Fantom Network.
Fiore Jack, [Mar 21, 2022 at 08:25:59]: Great, that's what we all were waiting for so without further delay I would proceed to the 1st question 😀.
Libero Leo 🗽🗽🗽, [Mar 21, 2022 at 08:29:38]: I think this First question will clarify for many current LIBERO holders. fLIBERO is NOT a bridged token from the BSC to Fantom network, we are instead creating a new token that has the same mechanism as the LIBERO token on Fantom. This new token fLIBERO will have all the exciting new innovations which have made LIBERO successful.
However Fantom is a different network with different user's behavior, so fLIBERO will have a life of its own, and how fLibero thrives there, will depend on the dynamic of supply and demand of that network alone.
The decision for not bridging, but instead, creating a new token with a new life of its own, comes from our thorough research and from internal debate with our team and user base. Here are the 2 keys reasons why not simply bridging to the new network but instead launching a new token is best for both LIBERO and fLIBERO long term:
1/ When a token is bridged to a new network, there is a disadvantage for users purchasing on the new network, as the token on the newer network will be much weaker than the token on the original network. This is due to people inevitably migrating back to the larger network by selling their assets to chase the larger rewards on the old network. The rewards will always be higher on the old network as the original network will always have a larger volume so the rewards are also larger. As the rewards are higher and the volume higher the price of the token is more stable and the liquidity is much larger allowing easier trades and greater benefits to users.
2/ For rebase tokens such as LIBERO a large amount of liquidity is essential. By rewarding clients with as high as 2% per day the potential for users to dump their assets and cash out is huge, to mitigate such risk a large amount of liquidity is required. To attempt such tokenomics without a large liquidity backing the project, could result in the value of the token going to 0 if large numbers of users were to dump their entire bags in an instant.
With larger liquidity, prices remain stable and even after large selloffs the price of the token stabilizes much quicker, giving holders the confidence to hold much longer.
There are already many examples with LIBERO where we can see the liquidity protecting us from users selling. For example yesterday we had a 2 millions USD dump but the price of the token only moved about 15%, and in the past we can see $500K or $1M dumps a day but the price of the token returns back to normal very quickly, thanks to our sizable liquidity.
So with a large liquidity, and even with high rewards and large cash out’s we can still sustain the price, due to the liquidity growing after a dump, thanks to our liquidity building mechanism established from the 10% tax from each buy&sell.
From this you can see why we chose to presale a new coin, because the success of the coin depends on liquidity. If we choose to bridge our project and want the token to be successful, you would have to take millions of dollars from LIBERO's treasury to create liquidity in the new project and in our eyes each project should stand alone. For example, LIBERO at the beginning had 1.6 million USD liquidity and this made it successful, if we only have a few hundred thousand dollars, it is not possible to create large volume and be successful like LIBERO is.
If we remove 1-2 million dollars from Libero to create Liquidity for fLIBERO, it will remove a large amount of the buy back fund of Libero. Less treasury means less buyback and less insurance and destabilizes the current LIBERO system and also less farming profit for xLIBERO holders. That is the main reason we decided to make a new token, raise funds from presale to create a large liquidity from the beginning. This new liquidity will equal millions of dollars which will create large volume, and will have immediate and long term success, like LIBERO on the BNB Chain.
From our research, when the liquidity on Fantom and Ethereum is large, profit-takers do not affect the price as much. So others will feel the coin is solid, the price is stable, and will trust the system. When there is trust, the system will have more holders, there will be more money flowing into the system. That's what happened in the BNBChain and we want to do the same on Fantom & Ethereum. We hope fLIBERO will create the same level of liquidity as Libero on Fantom and will be just as successful.
So to sum it up: FLIBERO is not a bridge of LIBERO from BNBChain to another network, but we create a new coin that has the same mechanism and innovations. We will have a presale to build a large liquidity from the start to make sure the new token will be sustainable like Libero. The new token will have a life of its own.
Fiore Jack, [Mar 21, 2022 at 08:53:00]: For sure it's understandable that rebase token like Libero needs huge liquidity. And why you choose to go with presale instead of bridging.
Libero Leo 🗽🗽🗽, [Mar 21, 2022 at 08:56:33]: Of course we built fLIBERO and other expansions with the benefit of LIBERO in mind.
LIBERO on BSC is our home, our proven success on the BNBChain with 1.5 months robust growth and unlimited potential with no signs of slowing down any time soon. In exchange for this we will make Libero holders enjoy benefits from all the expansion to other block chains. Here are some examples of how users on bsc will benefit from fLIBERO.
Libero Leo 🗽🗽🗽, [Mar 21, 2022 at 09:00:47]:
1. Millions of USD will be added to LIBERO Treasury from other chain's successes: Because Libero Treasury will own 5-10% of the new project presale price, resulting in Libero Treasury always being bigger after each expansion. We estimated that even if we have only 1/10 the success on Fantom compared to BNB Chain, the LIBERO treasury will grow around 1 millions USD.
Bigger treasury will lead to more stable and solid growth of LIBERO on BNBChain, bigger buybacks and more farming profit to divide amongst Libero holders
So holders of LIBERO will get the benefit, both short term, in the form of BUSD dividend among xLIBERO Bank holders, and long term as the LIBERO treasury will have millions of USD more for buyback & supporting the price on BNBChain.
As you know, Libero DAO had a fierce voting session a few days ago. It was decided that 10% of the farming profit would be divided between xLIBERO holders. As the Libero treasury grows exponentially, the farming profits will increase exponentially, and there will be more money to xLIBERO holders.
2. Increasing brand awareness of Libero to millions of users on other chains: You can see we named the new token fLIBERO, not a totally unrelated name. Why? Fantom has millions of users and the new token will Increase LIBERO's brand awareness to millions more users after this new expansion. LIBERO will become a known and trusted brand. More people will know & talk about Libero, the branding effect will bring more customers to the original LIBERO.
So I think this will strengthen the market position of LIBERO, having more advantages compared to our competitors and together with the larger LIBERO brand awareness, will have more money flowing to LIBERO on the BNBChain both short term and long term.
Fiore Jack, [Mar 21, 2022 at 09:14:16]: That's interesting so Bsc Libero will be getting large sums into its treasury from New expansions
Libero Leo 🗽🗽🗽, [Mar 21, 2022 at 09:18:06]: As you know, LIBERO’s campaign in New York Times Square has been very successful. Many people on other chains already know about Libero but have not had the opportunity to access it. This is an opportunity for them to join the ecosystem.
Because of our intense marketing effort, the LIBERO brand is already quite well know and trusted in Defi space, fLibero will reap the full benefit of the brand awareness already built up, giving it the strongest possible legacy with which to draw from in the beginning, unlike when we first launch LIBERO there are many users causing fud & doubts. So that is one of the great benefits for fLIBERO or any other Libero in other block chains in the future.
The second benefit, for fLIBERO is that, not only does LIBERO own 5-10% of its total supply of fLIBERO, but fLIBERO will own 1-2% total supply of LIBERO in exchange. So as LIBERO grows, the new tokens will have a larger, more stable treasury, a larger buyback fund, and a larger reward fund for those locked in the bank of the new chains, thanks to LIBERO.
So each growth of LIBERO on BNBChain will help the treasury of a new token on other chains grow, creating more sustainability for the new token. We can say ‘The growth of any token on any chain will help the whole LIBERO ecosystem to be more robust and sustainable.’
Libero Leo 🗽🗽🗽, [Mar 21, 2022 at 09:36:53]: Yes, not only will fLIBERO have the same level of coding & functions, we will have the same level of marketing for fLIBERO.
🎊LIBERO’S ACHIEVEMENTS IN 50 DAYS SINCE LAUNCH🎊
We have a marketing team that is very professional and dedicated to excellence. Our marketing team never rests! We are working hard day & night to make Libero viral everywhere! We believe viral marketing is one of the most useful and most notorious superpowers with its ability to spread ideas with unprecedented speed and scope. The exclamation “Let’s make this go viral!” has become the slogan of marketing directors everywhere. That's why Libero always focuses on cracking the code for viral marketing and we are witnessing exploding growth day by day. Up to now in just 50 days since launch, we have achieved 🚀
🔸$120 Millions MarketCap, from $5 Millions MarketCap at presale.
🔸 81K+ Holders
🔸x10.5 presale price, and token amount increased 2.7 times from presale. Which means presale holders have increased their investments 28.4 times! Libero truly brings financial freedom to many holders. I believe that some holders have become dollar millionaires!
🔸 $17.2 Million USD burned (12.35% total supply)
🔸 $6.2 Million USD total treasury
🔸LIBERO BANK Over 1.7 Billion Libero staked, worth $18.6 Million USD, for 3.5 years on average. That shows the super high confidence and trust of our holders on LIBERO. Total Passive income ($LIBERO + $BUSD) rewards surpassed $3.3 Million USD, of which $903K is in BUSD. With the 200% APR reward in BUSD, the highest stable coin APR on the whole Defi market, our LIBERO Bank Users don't even need to sell their token and still benefit greatly from our innovative Libero Bank feature. This is achieved in just 18 days, and expanding fast everyday
🔸Certik audit certificate: LIBERO officially become the pioneer in safety measure, we are the first and only of all fixed APY projects Audited by Certik, and on Top 10 BSC Projects by CertiK Security Score